Quote:
Originally Posted by barrysloate
I understand herd mentality, and everyone assumes the card they buy will be just as desirable when it comes time to sell. But I still have trouble with how much faith is put on that label.
If you have 1952 Topps Mantle that grades PSA 8, and you are able to convince the grader that it deserves an extra ".5" on the label- not a full grade, but a half grade- that grader has just created a half a million dollars of wealth out of thin area. How did such a market evolve? Something about this simply escapes me.
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Some people put 100 percent certainty in something with 15 percent margin of error. But, really, their concern is financial value. The owner may be well aware of the margin of error in grading and the possibility of alterations, but all that matters is the financial value-- and if others invest in the label, then the label is what matters.